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Consumer Debt Facts in Hazelwood

Missouri Consumer Debt Accumulation by County

Hazelwood Consumer Debt Accumulation

$348 dollars in debt in 2016

The average Hazelwood resident accumulated $348 dollars in debt in 2016. Hazelwood citizens racked up a total of $8.9 million in debt in the 2016 fiscal year.

What are the Debt Consolidation Options available in Hazelwood?

Facing Debt: You have options

If you've got some serious debt accumulating, it can be extremely daunting. When the bills keep piling up, and you might not know where to turn to for help. Maybe you've heard a bit about debt consolidation but aren't too sure on how it can help you climb your way out from the hole you're in.

Debt consolidation doesn't have to be scary, and there are many options which will help you get out of debt faster. Research all of your options and then pick the one that works best for you and your financial situation.

Secured Debt Consolidation Loans in Hazelwood

Typically a secured debt consolidation loan allows you to lump most of your debt payments under a single bill at a lower rate than the individual rates you may have been getting. However, in order to secure a lower rate with a secured debt consolidation loan, you must have some type of asset to use as collateral, such as your home. More information on that can be found below.

How much of a loan you can get depends on the type of collateral you have and how much it's worth. These types of loans can also be repaid back over a long length of time, anywhere from 5 to 30 years, and they can often boost your credit rating if managed properly. Otherwise, you risk defaulting on the loan and losing the asset used as collateral.

Unsecured Debt Consolidation Loans in Hazelwood

Much like a secured debt consolidation loan, an unsecured debt consolidation loan lets you combine your debt payments under one lump sum with one interest rate. However, unlike a secured debt consolidation loan, you're not required to have an asset or collateral to receive such a loan.

Because you aren't offering up any collateral for such a loan, it's a much riskier loan for debt consolidators, and your interest rate could be somewhat high. These loans are determined according to your credit history and score, and the upside to an unsecured debt consolidation loan is that you aren't in jeopardy of losing your asset should you default.

Using a Home Equity Loan as Debt Consolidation in MO

A home equity loan lets you borrow money, using your home as collateral. This home equity loan is essentially a second mortgage that allows you to turn the equity on your home (the money your property is worth minus the amount you owe on it) into cash to be used at your discretion, such as debt consolidation. These loans are set up to be repaid quicker than your mortgage in equal payments with a fixed interest rate.

Home equity loans are secured loans which have the same risks and rewards already mentioned.

There are also programs which permit you to consolidate all of your credit card debt into one single payment (and interest rate). If you've got good credit, you could also be able to negotiate a lower interest rate on your credit cards, making it easier to repay.

Another option is to qualify for a new credit card at a low introductory interest rate (possibly as low as 0%) and transfer your credit card balance to your new card. While you're in your interest free rate, you should pay double payments in order to pay off your debt faster. But understand that the interest may very well be fairly high after the promotional period. Consider this way of consolidating debt only if you know you can pay off the debt while the introductory rate is in effect.

Another option with respect to debt consolidation is to enroll in a debt management program. A credit counseling agency will help you set up a debt management plan to help you pay off your debt as quickly as possible. This agency will also usually negotiate with your debtors so that they can reduce interest rates and fees.

Once the repayments are negotiated you will usually set up an account with the credit counseling agency and pay one lump sum a month into the account. The credit counseling agency will then disburse the payments out to each creditor. This benefits you because you only have to make one payment, and additionally it gives creditors more assurance that your payments will be made on time every month.

Credit counseling agencies can also help you develop a budget that's simple for you to follow and help alleviate some of the stress your debt has been causing you. If you stick to the plan a debt management program can help you save money, get rid of debt sooner and have a positive effect on your credit score.

Debt settlement is a strategy intended to pay off debts for less than you owe in a timeframe less than if you pay the debt in full. Debt Settlements are usually reserved for higher debt amounts of at least $10,000. Usually, the consumer enlists the help of a professional debt settlement company and/or lawfirm.

Those who choose to settle their debt can end up paying less than the full amount they owe. You will usually damage your credit in the short term, and there is a risk of litigration from creditors.

If you are serious about settling your debt, give us a call and we will see if you qualify.

Consumers have recently filed 108 debt or credit card complaints in Hazelwood.

Date Company and Reason
03/24/2018 A complaint against CAPITAL ONE FINANCIAL CORPORATION was filed on 03/24/2018 regarding credit card or prepaid card practices
03/13/2018 A complaint against JPMORGAN CHASE & CO. was filed on 03/13/2018 regarding debt collection practices
03/08/2018 A complaint against Diversified Consultants, Inc. was filed on 03/08/2018 relating to debt collection practices and alleges that Diversified Consultants, Inc. is attempting to collect a debt not owed by the consumer.
02/26/2018 A complaint against SYNCHRONY FINANCIAL was filed on 02/26/2018 regarding debt collection practices
02/26/2018 A complaint against Colony Brands, Inc. was filed on 02/26/2018 regarding debt collection practices
02/26/2018 A complaint against Colony Brands, Inc. was filed on 02/26/2018 regarding debt collection practices
02/26/2018 A complaint against CAPITAL ONE FINANCIAL CORPORATION was filed on 02/26/2018 regarding debt collection practices
02/26/2018 A complaint against Colony Brands, Inc. was filed on 02/26/2018 regarding debt collection practices
02/19/2018 A complaint against Account Resolution Corporation was filed on 02/19/2018 relating to debt collection practices and alleges that Account Resolution Corporation is attempting to collect a debt not owed by the consumer.
02/14/2018 A complaint against UMB BANK, NATIONAL ASSOCIATION was filed on 02/14/2018 regarding credit card or prepaid card practices

Last updated: 2018-04-12

Top Reasons for Debt in Hazelwood

OverSpending

The single most common form of debt help that people seek is for credit cards that got out of control.

Divorce

If you are going through a change in marital status in Hazelwood and can't pay all of the bills, we may be able to help.

Job Loss

When unemployment in Hazelwood rises, many consumers are left unable to pay their bills. Debt management options are available.

Medical Bills

Unexpected medical expenses happen. A simple treatment can be billed at outrageous rates. Many consumers prefer to settle their medical debt.

St. Louis County, Missouri annual city consumer debt rankings are in. We have analyzed the average consumer spending behavior across 74 cities and towns in St. Louis County, MO. The average citizen in Hazelwood is spending approximately $348 more dollars than they earned annually, compared to the average of $357 across Missouri. All statistics according to the latest data(2016).

Highest Debt Cities in St. Louis County Missouri

  1. Des Peres ranks 1st out of 74 cities in St. Louis County in consumer debt accumulation with $58 per resident on average in 2016.
  2. Fenton ranks 2nd out of 74 cities in St. Louis County in consumer debt accumulation with $61 per resident on average in 2016.
  3. Ballwin ranks 3rd out of 74 cities in St. Louis County in consumer debt accumulation with $68 per resident on average in 2016.
  4. Town and Country ranks 4th out of 74 cities in St. Louis County in consumer debt accumulation with $71 per resident on average in 2016.
  5. Wildwood ranks 5th out of 74 cities in St. Louis County in consumer debt accumulation with $76 per resident on average in 2016.
  6. Charlack ranks 6th out of 74 cities in St. Louis County in consumer debt accumulation with $84 per resident on average in 2016.
  7. Eureka ranks 7th out of 74 cities in St. Louis County in consumer debt accumulation with $95 per resident on average in 2016.
  8. Green Park ranks 8th out of 74 cities in St. Louis County in consumer debt accumulation with $97 per resident on average in 2016.
  9. Winchester ranks 9th out of 74 cities in St. Louis County in consumer debt accumulation with $101 per resident on average in 2016.
  10. Creve Coeur ranks 10th out of 74 cities in St. Louis County in consumer debt accumulation with $108 per resident on average in 2016.
  11. Old Jamestown ranks 11th out of 74 cities in St. Louis County in consumer debt accumulation with $111 per resident on average in 2016.
  12. Manchester ranks 12th out of 74 cities in St. Louis County in consumer debt accumulation with $115 per resident on average in 2016.
  13. Sappington ranks 13th out of 74 cities in St. Louis County in consumer debt accumulation with $122 per resident on average in 2016.
  14. Sunset Hills ranks 14th out of 74 cities in St. Louis County in consumer debt accumulation with $123 per resident on average in 2016.
  15. Oakville ranks 15th out of 74 cities in St. Louis County in consumer debt accumulation with $124 per resident on average in 2016.
  16. Kirkwood ranks 16th out of 74 cities in St. Louis County in consumer debt accumulation with $127 per resident on average in 2016.
  17. Ellisville ranks 16th out of 74 cities in St. Louis County in consumer debt accumulation with $127 per resident on average in 2016.
  18. Twin Oaks ranks 18th out of 74 cities in St. Louis County in consumer debt accumulation with $130 per resident on average in 2016.
  19. Lakeshire ranks 19th out of 74 cities in St. Louis County in consumer debt accumulation with $146 per resident on average in 2016.
  20. Calverton Park ranks 20th out of 74 cities in St. Louis County in consumer debt accumulation with $151 per resident on average in 2016.
  21. Moline Acres ranks 21st out of 74 cities in St. Louis County in consumer debt accumulation with $166 per resident on average in 2016.
  22. Chesterfield ranks 22nd out of 74 cities in St. Louis County in consumer debt accumulation with $168 per resident on average in 2016.
  23. Bellefontaine Neighbors ranks 23rd out of 74 cities in St. Louis County in consumer debt accumulation with $176 per resident on average in 2016.
  24. Webster Groves ranks 24th out of 74 cities in St. Louis County in consumer debt accumulation with $187 per resident on average in 2016.
  25. Black Jack ranks 25th out of 74 cities in St. Louis County in consumer debt accumulation with $197 per resident on average in 2016.
  26. Crestwood ranks 27th out of 74 cities in St. Louis County in consumer debt accumulation with $198 per resident on average in 2016.
  27. Concord ranks 27th out of 74 cities in St. Louis County in consumer debt accumulation with $198 per resident on average in 2016.
  28. Florissant ranks 27th out of 74 cities in St. Louis County in consumer debt accumulation with $198 per resident on average in 2016.
  29. Castle Point ranks 29th out of 74 cities in St. Louis County in consumer debt accumulation with $202 per resident on average in 2016.
  30. Affton ranks 30th out of 74 cities in St. Louis County in consumer debt accumulation with $203 per resident on average in 2016.
  31. Cool Valley ranks 31st out of 74 cities in St. Louis County in consumer debt accumulation with $207 per resident on average in 2016.
  32. Berkeley ranks 32nd out of 74 cities in St. Louis County in consumer debt accumulation with $216 per resident on average in 2016.
  33. Olivette ranks 33rd out of 74 cities in St. Louis County in consumer debt accumulation with $226 per resident on average in 2016.
  34. Maryland Heights ranks 34th out of 74 cities in St. Louis County in consumer debt accumulation with $229 per resident on average in 2016.
  35. Valley Park ranks 35th out of 74 cities in St. Louis County in consumer debt accumulation with $232 per resident on average in 2016.
  36. Mehlville ranks 36th out of 74 cities in St. Louis County in consumer debt accumulation with $239 per resident on average in 2016.
  37. Velda Village Hills ranks 37th out of 74 cities in St. Louis County in consumer debt accumulation with $241 per resident on average in 2016.
  38. Edmundson ranks 38th out of 74 cities in St. Louis County in consumer debt accumulation with $258 per resident on average in 2016.
  39. Bel-Ridge ranks 39th out of 74 cities in St. Louis County in consumer debt accumulation with $264 per resident on average in 2016.
  40. Spanish Lake ranks 40th out of 74 cities in St. Louis County in consumer debt accumulation with $266 per resident on average in 2016.
  41. Jennings ranks 41st out of 74 cities in St. Louis County in consumer debt accumulation with $284 per resident on average in 2016.
  42. Riverview ranks 42nd out of 74 cities in St. Louis County in consumer debt accumulation with $286 per resident on average in 2016.
  43. Shrewsbury ranks 43rd out of 74 cities in St. Louis County in consumer debt accumulation with $298 per resident on average in 2016.
  44. Country Club Hills ranks 44th out of 74 cities in St. Louis County in consumer debt accumulation with $299 per resident on average in 2016.
  45. Flordell Hills ranks 45th out of 74 cities in St. Louis County in consumer debt accumulation with $316 per resident on average in 2016.
  46. Pasadena Hills ranks 46th out of 74 cities in St. Louis County in consumer debt accumulation with $325 per resident on average in 2016.
  47. Hazelwood ranks 47th out of 74 cities in St. Louis County in consumer debt accumulation with $348 per resident on average in 2016.
  48. Pacific ranks 48th out of 74 cities in St. Louis County in consumer debt accumulation with $349 per resident on average in 2016.
  49. Ferguson ranks 49th out of 74 cities in St. Louis County in consumer debt accumulation with $354 per resident on average in 2016.
  50. Vinita Park ranks 50th out of 74 cities in St. Louis County in consumer debt accumulation with $365 per resident on average in 2016.
  51. Lemay ranks 51st out of 74 cities in St. Louis County in consumer debt accumulation with $367 per resident on average in 2016.
  52. Overland ranks 52nd out of 74 cities in St. Louis County in consumer debt accumulation with $376 per resident on average in 2016.
  53. Bridgeton ranks 53rd out of 74 cities in St. Louis County in consumer debt accumulation with $377 per resident on average in 2016.
  54. Clayton ranks 54th out of 74 cities in St. Louis County in consumer debt accumulation with $397 per resident on average in 2016.
  55. Northwoods ranks 54th out of 74 cities in St. Louis County in consumer debt accumulation with $397 per resident on average in 2016.
  56. Brentwood ranks 56th out of 74 cities in St. Louis County in consumer debt accumulation with $410 per resident on average in 2016.
  57. Beverly Hills ranks 57th out of 74 cities in St. Louis County in consumer debt accumulation with $418 per resident on average in 2016.
  58. Richmond Heights ranks 58th out of 74 cities in St. Louis County in consumer debt accumulation with $443 per resident on average in 2016.
  59. Pine Lawn ranks 59th out of 74 cities in St. Louis County in consumer debt accumulation with $456 per resident on average in 2016.
  60. Hanley Hills ranks 60th out of 74 cities in St. Louis County in consumer debt accumulation with $465 per resident on average in 2016.
  61. Pagedale ranks 61st out of 74 cities in St. Louis County in consumer debt accumulation with $468 per resident on average in 2016.
  62. St. Ann ranks 62nd out of 74 cities in St. Louis County in consumer debt accumulation with $505 per resident on average in 2016.
  63. Velda City ranks 63rd out of 74 cities in St. Louis County in consumer debt accumulation with $510 per resident on average in 2016.
  64. Greendale ranks 64th out of 74 cities in St. Louis County in consumer debt accumulation with $579 per resident on average in 2016.
  65. Norwood Court ranks 65th out of 74 cities in St. Louis County in consumer debt accumulation with $619 per resident on average in 2016.
  66. Bel-Nor ranks 66th out of 74 cities in St. Louis County in consumer debt accumulation with $636 per resident on average in 2016.
  67. Normandy ranks 67th out of 74 cities in St. Louis County in consumer debt accumulation with $646 per resident on average in 2016.
  68. University City ranks 68th out of 74 cities in St. Louis County in consumer debt accumulation with $680 per resident on average in 2016.
  69. Marlborough ranks 69th out of 74 cities in St. Louis County in consumer debt accumulation with $737 per resident on average in 2016.
  70. Maplewood ranks 70th out of 74 cities in St. Louis County in consumer debt accumulation with $779 per resident on average in 2016.
  71. Hillsdale ranks 71st out of 74 cities in St. Louis County in consumer debt accumulation with $879 per resident on average in 2016.
  72. Breckenridge Hills ranks 72nd out of 74 cities in St. Louis County in consumer debt accumulation with $908 per resident on average in 2016.
  73. Wellston ranks 73rd out of 74 cities in St. Louis County in consumer debt accumulation with $996 per resident on average in 2016.
  74. Kinloch ranks 74th out of 74 cities in St. Louis County in consumer debt accumulation with $2060 per resident on average in 2016.
How does St. Louis County rank in Missouri?
Missouri County Debt Distribution

8 counties in Missouri accumulated $500+ in debt in 2016. Hazelwood averaged $348 per resident.

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